Helpful Information - Pre Marital Agreements
Who should consider a prenuptial agreement?
In the past, prenuptial agreements were often favored by individuals who were marrying for the second time, and had assets from a previous marriage which they wanted to preserve for their children from that marriage. Thus the couples were typically older and had a significant amount of assets.
A growing trend is for young adults to marry later for the first time. They have been in the work force for a number of years and have accumulated assets. Increasingly, these individuals are creating prenuptial agreements to define and protect the assets they bring to the marriage.
Marriage and Marital Agreements
Marriage is often defined as "the uniting of two individuals together in love and happiness". It is important, however, for all couples to understand that marriage is also a partnership with legal rights and responsibilities for the partners and family.
A marital agreement establishes clarity to issues that could otherwise cause conflict later in the marriage. It provides understanding for the couple to help them preserve a loving, happy life together.
Doesn't a prenuptial agreement mean that the individuals don't trust each other?
Not at all. A prenuptial agreement is grounded in realism and is not indicative of a lack of love or trust.
What is a prenuptial agreement?
A prenuptial agreement is a binding agreement entered into prior to a marriage in which the individuals , in however much detail they wish, set forth what will happen to their income and assets in the event the marriage ends in death or other circumstance.
When should the prenuptial agreement be created?
The agreement should be in place approximately 60 days prior to the date of the wedding.
How much does a prenuptial agreement cost?
It depends on the size and complexity of the assets, however, a typical prenuptial agreement costs between $400.00 and $750.00 to prepare.
How can the McDonald Law Office help me with a prenuptial agreement?
Contact the office to make an appointment. After you have scheduled your appointment, you will be asked questions to help us determine what information you will need to bring to the appointment. During your consultation, Ms. McDonald will discuss the details of your situation and help you determine what you would like the prenuptial agreement to say. Prior to a follow up meeting, we will draft your agreement. At the concluding meeting, we will review and explain your document with you.
What if I'm interested to learn more about how an agreement would be important for me and my specific situation before I actually begin to create an agreement?
Contact the office for a consultation appointment.
